The Nigerian government has appealed to farmers to prepare for the purchase of 40 per cent shares of the newly privatized Bank of Agriculture (BoA), to join in the ownership of the bank.
Chief Audu Ogbeh, the Minister of Agriculture and Rural Development, who made the appeal in Abuja said that the move would help to create a viable and virile farmers’ Bank like their counterpart in the Netherlands and China.
The minister explained that the Central Bank of Nigeria (CBN) and the Federal Ministry of Finance would own 20 per cent capital each while the private sector and investors would have 20 per cent shares. According to him, farmers will have 40 per cent shares.
“We want to call on all farmers, old and new, male or female everywhere in Nigeria to prepare to buy shares in the Bank of Agriculture (BoA) when the sale opens. It is time to join in owning the farmers’ bank. Our administration, upon assumption of office, decided to take steps to stabilise, commercialise and partially privatise the Bank of Agriculture so it ceases to be wholly government bank constantly losing money. “ he said